Mid-term

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View Attempt 1 of 1 Title: Mid-Term Started: June 28, 2010 8:00 PM Submitted: June 28, 2010 8:44 PM Time spent: 00:43:31 Total score: 49/100 = 49% Total score adjusted by 0.0 Maximum possible score: 100 Done 1. The process of providing financial information to external decision makers is referred to as: Student Response Value Correct Answer Feedback A. Public accounting 0% B. Government accounting 0% C. Financial accounting 100% D. Managerial accounting 0% Score: 4/4 Comments: 2. Financial statements generally include all but which of the following: Student Response Value Correct Answer Feedback A. Income statement. 0% B. Federal income tax return 100% C. Balance sheet 0% D. Statement of cash flows 0% Score: 4/4 Comments: 3. Your location: Assessments View All Submissions › View Attempt View Attempt http://webctap.gardner-webb.edu/webct/urw/lc8932374. .. 1 of 13 6/28/2010 8:45 PM
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GAAP include which of the following pronouncements: Student Response Value Correct Answer Feedback A. Statements of Financial Accounting Standards 0% B. Accounting Research Bulletins 0% C. Accounting Principles Board Opinions 0% D. All of the above 100% Score: 4/4 Comments: 4. The journal entry to record the borrowing of cash and the signing of a note payable involves: Student Response Value Correct Answer Feedback A. A debit to note payable and a credit to cash 0% B. Debits to cash and interest expense and a credit to cash 0% C. A debit to cash and a credit to note payable 100% D. None of the above 0% Score: 0/4 Comments: 5. View Attempt http://webctap.gardner-webb.edu/webct/urw/lc8932374. .. 2 of 13 6/28/2010 8:45 PM
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The primary objective of financial reporting is to provide information: Student Response Value Correct Answer Feedback A. About a firm's financing and investing activities. 0% B. About a firm's economic resources and obligations. 0% C. About a firm's product lines. 0% D. Useful in predicting cash flows. 100% Score: 0/4 Comments: 6. Which of the following is most likely an accrued liability? Student Response Value Correct Answer Feedback A. Depreciation. 0% B. Interest 100% C. Cost of goods sold 0% D. Office supplies 0% Score: 4/4 Comments: 7. A prepaid expense is an expense: Student Response Value Correct Answer Feedback A. Incurred before the cash is paid 0% View Attempt http://webctap.gardner-webb.edu/webct/urw/lc8932374. .. 3 of 13 6/28/2010 8:45 PM
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Student Response Value Correct Answer Feedback B. Incurred and paid 0% C. Paid but not yet incurred 100% D. None of the above 0% Score: 0/4 Comments: 8. The Esquire Clothing Company borrowed a sum of cash on October 1, 2006, and signed a note
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Mid-term - View Attempt...

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